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tv   Fast Money Halftime Report  CNBC  February 19, 2013 12:00pm-1:00pm EST

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today we're asking you what should be the new name of the merged company? ken writes "office 2 d-max. ray tweets write aid. and i think they should eliminate the office name confusion once and for all. call the new company staplers. >> the last few months, the asymmetry between apple and google almost exact. welcome to the "halftime"
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show. four hours to go until the close. the dow about 130 points away from its all-time high. here's what we're following on "halftime." herbalife's moment of truth. hitting the wall. is the consumer finally starting to crack? the take on the biggest retailer in the "halftime" squabble. but first market milestones. the s&p up selven straight week, nasdaq at a high. are the traders setting themselves up for a fall? how about that question, steve? are people just too optimistic? >> i don't think so. i still there still is a wall of worry out there. the walmart news comes out, the market barely flinches or recovers quickly. i think there's still enough
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negative news out there and we haven't seen the flow of funds that i would like to see. having said all that, you've got a market that's up, unimpeded so far. it's got to take a break but that break will be met with more volume. people are worrying about the continuing debt ceiling negotiations going on in the budget negotiations. doesn't seem to matter. i think we go higher still. >> josh brown? >> i think there's very little optimism. >> what do you mean? the market is on the cusp of hitting its all-time high in terms of the dow. the s&p is add seven straight weeks up. >> do you know anyone that is proud to say how many stocks they're buying? do you know anyone walking down the street talking about how long they are? i've never seen this depressing a bull market. we're nowhere near the types of animal spirits we've seen at previous tops. look at the flow of funds in etfs, the most dominant categories that took in money over the first six months year
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to date, guess? hedge fund types where they're literally getting protection, low volatility etfs taking money. nobody is really riding this bull like it's a rodeo just yet. so i don't think we're at any kind of euphoricoptimism. >> j.j.? >> i got to agree with josh on this one. we just broke through the 1524 level, a key level. if xlf can break over 18 at the same time the spx continues higher, i think we can ride this a long way. what josh said is 100% right in terms of i don't think people are like i have to get in, i have to get in. talking to a lot of retail investors, if they had their toe in the water a year ago, they're up to mid thigh right now. most traders are looking for us to test 1550, perhaps even this
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week. >> why is the market hitting these milestones? >> you have names like google, jpmorgan, procter & gamble near all--time highs. but i'm more -- i think what's much more important is value in this market. i am not as impressed by price action that begets good price action. i'd much rather see stocks that look cheap from a valuation and earnings perspective. >> did the traders have this all right? we brought in steve liesman to try and cut through the noise. the market optimism or not has been going up, whether it's climbing the wall of worries or how you want to characterize it, we don't really know what the state of the economy is, do we? >> this is the best part of my day, staying in this chair and listening to these guys talk and seeing what their view is and if it comports with how the
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economists feel the economy is developing. when i listen to what they're saying, there is not the euphoria, there are still issues out there holding them back. the market is melting up despite that. that makes a lot of sense to me. i want to show you a forecast for gross depth product for growth in the economy over the next four quarters. the thing i want you to pay attention to are the lines i've added. it hard to see on that particular chart but the variability, the range on that first quarter number there is out.er than any other quarter usually the near term the economists are more certain over. you have this 2.1, 2% and then it gradually goes up. near term a ton of uncertainty. i want to show you the known economic unknowns that are out there, the things that should give them pause. the payroll tax hike. we don't understand exactly how
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and when this hit will take place. we know it's about $100 hit that will hit the low and middle-income folks the most. the sequester, will hurt the most. then of course there are high gas prices out there. to the extent these guys are reflecting that uncertainty, i think it's the right call. >> the question is did walmart in part tell you and tell others what economist himself to that point been unable to gather for themselves? >> let me try to explain the detail that's out there in trying to understand this. the january retail sales numbers came in better than expected, but there is an expectation out there, there is some thought right now that it did not pick up the weakness that we're going to see. that people did not notice what was happening to their paychecks until later in the month and that that was not picked up in the retail sales report because it does a lousy job picking up
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that last week of january. there are some guys out there, mike england is among them, others, that think that february and march could be negative for retail sales and that goes exactly in line with what walmart is saying. and there are other guys like jpmorgan, they were the bottom of that line there on the first quarter growth at 1.5%. they say there's down side risk because of the sequester. they originally thought it wasn't going to happen, ne now y think it's going to happen. if they think your investment thesis can withstand -- >> more power to you. >> i think that corporations as we've seen from the claims numbers have started to hire again. my bet is we're going to get a strong relative to consensus, maybe strong in the absolute employment number when it reports in early march. so to me that's going to take that spending off the table. >> that is a hundred percent correct. could you pile up all kinds of things on the right side for
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negatives. if you show me wage and employment growth on the left side, i say you're right, we can withstand the higher gas prices. >> lay off the xly names. up dochbt want to be heavily into consumer discretionary. this is to the because i can tell you exactly what the economy is going to do. we are not judges the beauty pageant. we're judging the judges. the judge will look at sequestration as a situation where none of the earnings for the second and third quarter can possibly be met in lurxury retail. >> they just showed a chart of it. >> it is an absurd rally. it's the best performing sector of the market last year by a long shot and quite frankly, i don't think that can withstand the headlines. >> are you short this sector? >> i'm not short the xly but i
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have no -- >> this judge wants to know what is going to bring optimism to a level where it matches the market move itself? you know what i have mean? >> i do, scott. if see's theses is holds true, if we break through that and we start threatening 1600 or above 1550 i think you start to see that optimism and with that a slight rise in interest rates. as steve liesman said, the one factor you're leaving out, housing. when people have jobs and getting better wage, the housing market has been pretty strong. there's no other asset that makes the individual feel like they are wealthy than the price of their house. >> let's wrap it up this way. is it fair to say we have about a two-week window until the market rally is confirmed or denied.
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the sequester information is going to come out. you're going to start to hear information about how the quarter has been going from various companies. we'll set up to either confirm or deny it. >> if we start to get serious information that the walmart letter is not an anomaly, i think the market will be worried by that. if negative retail sales go through fen and march, i think there's going to be some -- the facts are the past several times they blinked and they haven't gone through with it. i'm not sure i would make that trade this time. i might bet that they don't do it this time. that would be the one time they then slap me on the back side. >> steve liesman, thank you. david einhorn faces off in
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federal court. >> we're here to hear a judge's opinion. in a lengthy court filing, einhorn argues proposal number two on apple's current proxy statement runs contrary to shareholder interests by attempting to rid the company of its right toush u preferred shares. he's arguing they should issue a special speight of shares as apple sits on about $137 billion in spare cash at the moment. it may seem like a corporate -- its fourth quarter drop dented his holdings. apple may have big plans for its spare billions in cash, it could
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include big acquisitionacquisit. there's always a lot of speculation about that. we're going to have significant impact today if the judge decides to proceed or give in to an injunction that will block a shareholder vote on this all-important proposal. >> ultimately it's the judge who will decide whether this whole thing is a silly side show as tim cook said last week out in san francisco. >> you're very right. you were at that tech conference, scott. apple seems to be shrugging this off. may have -- they believe this bundle of proposals is ultimately good for shareholders. it includes not just the preferred shares issue but a restructuring of the board to provide greater shareholder impact in terms of board votes and how they're structured.
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there are some good things in there that even einhorn thinks should be in there and he does not think they should get rid of that blank check for issuing preferred chairs. >> is apple's gain google's gang. take a look at these charts here. google topping $800 for the first time ever. >> tech rotation? >> the rotation out of apple and into google. >> there are a lot of beneficiaries here. >> but google is undeniably one of the biggest. >> just like at 700, there was almost no one left to be bullish on apple to buy more. we might have hit that point at 40 4/
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410, 420 is where everybody wanted out. i don't see a ton of buyers or sellers. maybe this is equilibrium. >> think the reason for the price differential we've seen in the last few months is people want growth. when apple doesn't show the growth over the last three quarters, people shifted and said where do i get the growth? in the large cap names, google has been the place to show -- if you're a large cap portfolio, you have to make a bet on the next mega cap company. what you do on the margin with other companies, that's fine. >> this is not the first day where we've seen an overall positive market move and apple's negative. what does that tell you, weiss?
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>> that it is a side show and it's lower margin products coming out. >> the hot money is moving on as well. it's not counting on apple to lead the indices higher. >> coming up, as consumers get hit with higher gas prices and taxes, is the largest really retailer getting punched? and as deal making spikes, does unusual activity in some of the stocks? kayla has the story on that. >> the greater the number of deals, the more people want to play in the market and trade on those deals. not all have played fair. we look at the biggest insider m&a oops. at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points.
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is the consumer starting to crack? higher payroll taxes may be squeezing sales at walmart but is the world's largest retailer still worth buying? 1:30 on the clock. weis, make your case. >> i still like the consumer. if you look at walmart, i get the international play also. 60% of their store base is outside the u.s. yeah, i'm a little concerned about the memo that was leaked out that came out last week about february being terrible, but we don't know how january was.
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at 12.5 tiermes earnings, i don regard the stock as expensive. >> we played walmart to the long side last year. there was this massive 12-year resistance level that it broke out above. turns out that was a fall breakout. this thing is not ready to go. the risk is obviously to the down side. anyone with a remedial sense of resistance can see. you may end up being right but no one wants to own a big, fat gigantic stock like this with no upside catalyst with a weak dividend. >> but if you do have a rough economy, will you see see them trade downhill. cost co is at 20 times earnings and target -- >> what about the memo? you seem to be a little dismissive of the memo. >> i'm not dismissive of it. i just don't know all the facts.
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>> no one does and in the absence of the fact, the stock will be in the penalty box. >> the memo is out there. it can't be as bad as what the memo is, right? >> not true. it could be worse. >> that will be the last word. we'll go to the jury. j.j., who made the more compelling argument on walmart? >> i'm going to have to go with josh on this if for no other reading someone with a remedial sense of support and resistance i thought was a very good line. i hope you're right but i think josh is going to be. >> ennis? >> i actually agree. i think walmart is trouble from a technical perspective but also from a fundamental perspective. the payroll tax cut is going to hit the lower end much more than the higher end. >> let's look at stocks on the move. josh? >> the street's reaction mixed, analysts agree there's a need
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for consolidation in this sector but others believe there are secular challenges couldn't fronting these industries. some say there's a risk the ftc wouldn't look favorably on the merger and feel if it does get done, they feel the big winner is staples. >> josh, thanks so much. options activity is spiking ahead of the latest surge in big deals. kayla tausche is here to break down what drives the trades and what the s.e.c. is doing about it. >> heinz just the latest in this trend, we call them timely trades. that's probably be a little too kind. the s.e.c. settled with a
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company. no conclusions have been drawn there. traders in 2008 netted some $4.8 million in profits on leaks that anheuser-busch was being targeted. the source of the leaks, a sales trader whose wife was doing p.r. at the time for bud. when software giant sap -- that was in a day before the $8.8 billion was announced. going back to the heady private equity days of '06 and '07, it seemed no deal was without the trading tarnish. they saw suspicious trading preannouncement. it's always the big deals. scholars discovered the higher the price tag, the more
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financiers and lawyers and bankers, more insiders meant more insider trading. but it should get out to the journalist before the traders, right? >> the natural person to go to on this is j.j. and the options activity that can give you the clues on what's happening behind the scenes, so to speak. >> you see it a lot where there's zero open interest, a thousand contracts traded and the next day there's an announcement. the firms who have the other side, do they get anything back from the s.e.c.? they're the ones at risk. >> takes two to make a market, though, doesn't it? >> share of bank of america jumping 2% as the stock approaches multi-year highs.
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making the turn now with our top three trades. bank of america the biggest percentage gainer on the dow but are financials about to face major resistance? josh brown, this is up 2% today. >> the path of least resistance for these stocks has been higher. the bigger the better, they like citi, they like bank of america. that's a pretty significant line in the stand. i don't know a lot of people that are long on the stock that are looking to part with it just yet. it really seems to be strong, even on down days. >> interesting you say that because, weis, you're one of those. you're long and you have no plans to bail.
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>> i don't. i'm till positive on the economy. net interest margins will increase and you'll make more money. i think you're seeing a turn in m&a also. >> until that dynamic change, i'm not sure why anyone would want to walk away. >> best buy is getting a boost today, also getting an upgrade. stocks having a nice move. >> the stock was left for dead last year. fourth quarter sales were a little better than people expected, that showed some stabilization, which was positive. and steefle also making a call on management doing a much better job. the risk is the same it's been. google is getting into retail, apple has eaten their lrcunch. i would take profits and gets out of this. i don't see growth going forward. >> and dell will report earnings today after the bell amid buyout talks. don't pay attention to this right here, it's not showing
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great movement today. >> if you look where the stock has been, it was down at $8.69 at the end of december. with the announcement from mr. dell about trying to take the company private, tomorrow morning's conference calls are going to be very interesting. for those who have been in the stock, it seems like you have to stay with the stock just to play this out and see what happens. we could have some really interesting news tomorrow and perhaps over the next couple of weeks. >> ultimately what matters is whether we get some other bidder. is that the only thing that could stand in the way, despite some of the opposition voiced publicly by some of the biggest share holders? >> i don't think can you get another bidder. you've got michael dell. the question is does he raise his price? doesn't seem he's going to raise it enough to satisfy the others. and the price is fixed by the court there so they could be holding out for that, too. go with the longer terms, guys, if you want, but i'm not going
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to stock at all. >> retail gasoline prices up 32 straight days to a four-month high right now. let's go to jackie deangelis in the pits and the futures now crew. >> it's been a torrid run for gasoline prices, rising over 11% this year. the big question, are we looking at $5 gas this summer? jeff, break it down for me, why has gas risen faster than oil? refining capacity appears to be coming back online. what gives? >> you hit the nail on the head. we've had problems coast to coast, started with fires out west, hurricanes and super storms. it's been lock in step with the equity markets and crude oil. right now we're getting crushed in chicago. the national average is $3.73 a gallon and we're seeing $4.10
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gallon. as refiners finish their maintenance, supply will come back to this market. >> make the call for me now. is $5 a gallon gas realistic this summer? >> i don't know. certainly 4d.20 to $4.50 i can see. if you look at the chart i've given, at $3.16 even, that's where your resistance is. the trend line comes in around 310.8. we've rallied 11% without any retracement. >> jeff, 4.20, 4.50, 5, what's it mean for the stock market? >> well, i think consumer behavior will come out in the data. as that pain in the pump continues, you'll see consumers stop spending. i think this is all correlated. right now i think it's a big
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problem here and spi may be the next chatter out of the administration if prices get too high. >> now you know what these guys are seeing for gasoline. how but? will we see $5 gas this year? log on to cnbc.com and vote. we'll give you that result on our live show. scott, back to jackie, we'll se top of the hour. >> the expectations are probably very close to being priced in these stocks. they have had an incredible run. i would be looking at the exploration and production companies, which have started to break out but they've not done anything near what the phillip 66s and valerios have done. these are names that the hot money is starting to rediscover,
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they're starting to move and they again, they've got a lot more room than any of the refineries in my opinion. >> if gas price goes to $4.50 or $5, the refineries are still buying. >> it could be a stomach churning evening as carl icahn and bill ackman. and dan fulton is next on the half. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ]
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okay. [ male announcer ] with citibank's popmoney, dan can easily send money by email right from his citibank account. nice job ben. [ male announcer ] next up, the gutters. citibank popmoney. easier banking. standard at citibank. . well, the stakes are high for hedge fund heavyweights bill ackman and carl icahn tonight when herbalife report earnings. let's go back to the options market, j.j. what are we going to -- what can
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we figure that the options market is betting on ahead of these numbers? >> well, first they're betting on a big move, about 9.1% move -- >> in either direction? >> in either direction. i would say the sentiments are on the call, we've had out of the money buy callers friday and today. people seem to be speculating from the long side that earnings will be better than expected, that we will continue higher after earnings. >> what's your take, weis, on what i reported over the weekend? >> that was great news. you look back at it and why he got in and why wouldn't he? i mean, that's why he's one. best -- >> he win no, sir matter what. >> 20% short interest. he went out there, self-fulfilling prophecy, squeeze 'em. he looking for a stock price almost double and now he's selling. my guess is he hedged that part of the position with new skin
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he's gotten out of that position also, taking the hedges off. he's a winner. to me i still wouldn't play it just because you don't know how it's going to turn out but i would not expect any news on the government front in terms of potential investigation. >> important to note as well i'm told he still has a position. but, ennis, you've got the earnings and the street is going to look at that but the street wants to hear from the ceo or top management tomorrow at 11:00al eastern. >> the real story is still not earning. it's going to be any indications from the ftc on the investigation or any government official comments. i think the investigatory aspect of the story is most important. if you look at what they're pricing in, going out two, three, four month, they're triesitrie pricing quite a bit of volatility. >> pine river capital made a big bet on housing and ended 2012 with a 30% gain.
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today he explains why he sticking with the same plot this year. all right, well we don't have the sound but he is sticking with the same plan. if he's right, one company is sure to benefit. wirehauser controls six acres of timberlands to build new homes. mr. fulton, the ceo, joins us live. it's good to have you with us. >> it's good to be here. >> sentiment dropping today for the first time in ten months. how concerned are you? why do you think that is? >> i was a little surprised by that report. it doesn't concern me. our internal metrics look really solid. but the market has been relatively strong. so on a month-to-month basis, i could see a little bit of slippage. we're expecting a very strong year in 2013. >> they say, and this is a quote from their economist, building to continue on a modest trajectory this year. how would you characterize what
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you see building going forward? >> we ended the year last year as a country with about 870,000 housing starts. our forecast is about a million. i've heard as high as 1.1 million. i think this is a strong year based upon the sales we've had in our home building business and the orders we're having coming into our wood product business. we have exposure to the housing business through three of our four business segments. we a home builder, a major wood manufacturer and owner of six million acres of timberland in the united states. >> any fear the housing recovery has come a little too far too fast? >> at this point it feels very good. what's happened is the inventory levels have come down dramatically. the foreclosure pipeline is getting rather thin. there's a very low level of resale inventory.
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lower level of new home inventory in the marketplace. so there's a need for new housing. we've seen a firming of prices, which is a real key indicator of consumer optimism. and so we have people coming back into the marketplace, you know, into sales offices with a lot of confidence that the market is starting to recover. we noted importantly in our business, in our home building business in the fourth quarter what was most critical to us is finally to see a turn around in the california housing market. that's a large percentage of the u.s. housing potential, very critical for us, especially with our timberlands in the pacific northwest. and then, you know, rolling into the first of the year we always talk about housing sales in january being slow until after the super bowl, but before the super bowl our sales were up we
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reported about 125% year over year in the first of the year. >> can you comment at all on what your material cost, the what the cost of lumber is and how quickly it accelerated? it seemed to be one of the head winds cited in today's survey. >> lumber has moved up quickly. all materials costs have some element of inflation pressure, you know. our concern in the market today is cost pressure, not just from lumber but other building materials. but most importantly, land costs. so, you know, there was a lot of excess supply of land and vacant lots, especially developed lots during the recession. that supply is dwindling very quickly and so there's tightness in the land market and that puts upward pressure on new land acquisitions, as well as other cost inputs that go into the production of housing. >> what do you make of demand or how would you characterize that coming out of china, just given
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the property boom and then perhaps the pullback that we've seen. is demand as strong as it has been? >> are you talking about demand in china? >> yeah. >> demand in china, you know, softened for us. so we export logs off the west coast, our primary market for our log exports has always been japan, but the chinese entered the market, we saw demand fall off and we're starting to see some pick up in the demand for logs from china. in our cellulose fibers business, that's our fourth business segment, about an equal mix between europe and asia. we see signs the chinese economy
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is firming a bit. >> are we underestimating the coming build and recovery from hurricane sandy here in the eastern part of the united states? some of the traders sitting at my desk personally impacted by what's going on there. >> the last time we talked about that was immediately after sandy and it was really too early to tell. there was a lot of disruption in the distribution channels. i was in a meeting last week with economist mark zandi. he talked about the destruction in that storm of approximately 250,000 homes. that won't happen immediately. it takes a while for a homeowner to connect with their insurance company to get proceeds in order to rebuild and then every one of those communities has to decide whether or not you can rebuild in place or whether those homes need to be rebuilt elsewhere. but it is part of the replacement stock that is needed every single year in the u.s. that was a concentrated storm event, and i think longer term
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there will be a tremendous amount of rebuilding in that area. >> i have to give you a shout out from my pal jim cramer. i understand the springfield spartans have been good to you and jim. >> well, they have been. thanks very much. jim's been a great supporter. >> we'll talk to you again soon. mr. fulton, that he cnks. >> coming up, does the latest data out of the eurozone prove a crisis can be averted? back in two. m totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5373.
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it's lunchtime. in about 15 minutes on "power lunch," we'll talk about gas price. they have risen now for the 32nd consecutive day. we'll tell you whether higher gasoline costs could derail the stock market rally. >> big news in the insurance industry. we'll tell you why health insurers are getting whacked again. and google, above $800 a share for the first time ever. now back to scott. >> investor sentiment in germany soaring to its highest level in three years. andy, welcome back. the euro had peeled back off of that 136, 137 level.
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what's in the future here? where does it go? >> i think it's going to hold in here a little bit. we're around 133.05. we have an out of the world investment number, 38, the market was looking for 35. stocks rallied overall. there is a disconnect. the fourth quarter gdp was minus 0.6, the car sales are weak. i think we've got a little bit of zoom right before tomorrow's flash pmis both in the united states and european. so basically what i'm looking to do is try to trade the euro, buy some euros on a dip. i've got it done to 133.25 or 133.50. you want to buy euros going into that number tomorrow and after that, you know, right before that number you want to dump them out. so real short-term trade. i think we're in the range of 133 to 135 right now.
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>> we should sort of expect germany to hold up better than the others, right? i'm not sure how many perhaps of a surprise it is but is that going to be the real driver, that nation, or has it come down yet again france, italy and what's happening there? >> yeah, i mean, we've got an election coming up in italy and that's going to really be a big driver. there's coming up on the 24th and 25th. if berlusconi's group gets back into power, you've got a major power there because they want to jettison a lot of the monte reforms that were there and a lot of the overall austerity movement italy has had. that's going to be a big wild card. the race has tightened up quite a bit. >> a.b., good stuff. we'll talk to you again soon. >> stuff. we'll talk to you soon. >> thanks. >> editor and publisher of "the bush update." more on money in motion right here on cnbc.
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coming up on the half. you tweet it, we trade it, whole foods to broad cam. we have plays on stocks you asked for on twitter.
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stephen weiss, our traders are quick but not always right. let's listen. >> terms of the stock -- >> not so sure about that. >> normally i don't care how far stocks have gone. i don't tend to live in the past either. the valuation is extreme. >> netflix continued its big run, the stock up 17% since that call. stephen. >> here is the deal. that's why i don't wear a jacket on the show, because i make bad calls. takes me out of my element. the content comes online next year and the year after. thech done a phenomenal job. they don't own the market. i thought it was egregiously valued and i still think. i missed it. it's a huge miss. >> i've been wrong on the stock for the same reason.
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i looked at it at 100. i said, listen, a big rally, they dropped a bomb and shocked the street. they will do that again. >> how do you justify buying stock with this valuation. >> if you think that will continue, have fun. >> i won't let it in my house because i've been wrong on the stocks. >> you asked we deliver on four stocks that lit up my twitter feed. first up, whole foods. ennis, the trade? >> i don't like this stock one bit. had bad reports last week mainly on guidance from macroconcerns, difficulty on the margin side. i think it's way too ruchely priced. a supermarket trading three times. i'd say away. >> yannex. margins are shrinking, google
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moving into russia. i don't think you can buy a tech stock in russia unless you're hyper perspective, lots of money. don't pick something like this. too dangerous. >> this is probably the ugliest chart if you look at a two-year chart, down to the right significantly. if you pick a low, this is where you do look to the options market. off a low, 28.5, trading at 28.90, puts around a dollar. give yourself room to be wrong to catch the falling nights. >> this doesn't get to have its own way. a cheap stock but not grog that fast as you executive in the wireless. i much prefer qualcomm. i know j.b. is with me on qualcomm. >> final trades when we come back. [ male announcer ] i've seen incredible things.
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